India, Oct. 28 -- The Bombay High Court has refused to grant bail to a Navi Mumbai businessman accused of being part of a large-scale cyber fraud racket that duped country-wide investors through fake online share trading schemes.

Justice Amit Borkar rejected the bail plea of Pramod Ramsingh Fojdar, proprietor of Shri Kanhaiya Ji Trading Company, on October 16, 2025.

The case stems from an FIR registered in May 2024 by the Cyber Cell, Navi Mumbai, after a Vashi-based complainant reported losing over Rs.76 lakh in an online trading scam. The complainant was lured into joining WhatsApp groups such as "CINV - The Premier Strategy Group" after being promised lucrative returns through stock investments. Convinced by the use of a fake SEBI reg...